Sensex lifeline: high beeps and pratfalls

Shares of information technology services firm Infosys Technologies Ltd ended 3.91% up after the company beat market estimates on both revenue and profit. It reported net profit of Rs1,582 crore against market expectation of Rs1,450-1,500 crore for the December quarter.

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Bharti Airtel (Up %)

Bharti Airtel Ltd saw its stock close 2.04% down after the company agreed to acquire a 70% stake in Bangladesh’s Warid Telecom. Under the agreement, Bharti Airtel will make a fresh investment of $300 million and will have management and board control of Warid Telecom.

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IDBI Bank (Up %)

Shares of IDBI Bank Ltd fell 0.45% following the lender’s announcement that it is in talks with a private sector bank for a merger. Chairman and managing director Yogesh Agarwal added that the bank’s credit is picking up. With good growth in retail and housing segments, he is confident of achieving the 20% loan growth target.

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RIL (Up %)

Shares of Reliance Industries Ltd (RIL) closed 0.26% up after CNBC-TV18 reported that another treasury stake sale by RIL is on the cards. RIL will sell treasury shares if demand exceeds $1 billion and the transaction is likely to happen this week. Potential investors have been sounded out by bankers.

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Tantia (Up %)

Shares of Tantia Construction Ltd, which provides infrastructure services to theaviation, railways, roads, marine and power transmission sectors in India, closed 16.72% up. The company’s stock rose after the company bagged a Rs91.7 crore order from Northern Railway.